Former Australian cricketer Glenn McGrath has become a carbon farmer after securing a contract from the Clean Energy Regulator to be paid for growing trees on his sheep and cattle property in north-west NSW.
As the regulator announced it had awarded $557 million to 131 projects with an average abatement price of $12.25 a tonne as part of the second auction from the $2.5 billion Emissions Reduction Fund, the cricketing legend said the contract would supplement income on his 32,400 hectare property, Wancobra,160 kilometres north-west of Bourke.
Climate Friendly chief executive Freddy Sharpe, whose firm is helping develop 48 projects in the latest auction, said the Emissions Reduction Fund was helping "breathe life into marginal land" while also trying to protect the environment.
Read the full story on the Australian Financial Review.